U.S.
stocks advanced, after falling for the third time in four sessions, as
banks and insurers rose with Treasury yields and investors speculated
Greece will reach a deal with its creditors.
The
Standard & Poor’s 500 Index added 0.2 percent to 2,114.26 at 4 p.m.
in New York, and intraday came within 0.5 percent of its all-time
closing high set last month.
Investors
are speculating that Greece will reach a deal with European leaders and
the International Monetary Fund before payment deadlines due this
month. Prime Minister Alexis Tsipras will hear details of a final
proposal from creditors when he meets European Commission President
Jean-Claude Juncker in Brussels on Wednesday.
Investors
are also assessing economic reports for clues on when the Federal
Reserve will raise interest rates. The economy expanded in the past two
months, even as manufacturers in some regions took a hit from a stronger
dollar and a slowdown in energy-related investment, the Fed’s Beige
Book report showed today. Economists project the first Fed rate increase
will come in September.
Source : Bloomberg
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